DAT vs. SWPPX

Last updated Jul 14, 2026

DAT (ProShares Big Data Refiners ETF) and SWPPX (Schwab S&P 500 Index Fund) are both funds - DAT is a Technology Equities fund tracking the FactSet Big Data Refiners Index, while SWPPX is a Large Cap Blend Equities fund tracking the S&P 500 Index. Both are passively managed. Over the past 3 years, DAT returned 14.15%/yr vs 21.36%/yr for SWPPX. A 0.70 correlation means they provide meaningful diversification when combined. DAT charges 0.58%/yr vs 0.02%/yr for SWPPX.

Performance

DAT vs. SWPPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Big Data Refiners ETF (DAT) and Schwab S&P 500 Index Fund (SWPPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DAT achieves a -1.27% return, which is significantly lower than SWPPX's 11.35% return.

DAT

• 1D: 1.44%
• 1M: 7.50%
• 6M: -0.95%
• YTD: -1.27%
• 1Y: -1.09%
• 3Y*: 14.15%
• 5Y*: —
• 10Y*: —

SWPPX

• 1D: 0.46%
• 1M: 2.04%
• 6M: 9.23%
• YTD: 11.35%
• 1Y: 22.46%
• 3Y*: 21.36%
• 5Y*: 13.22%
• 10Y*: 15.29%

*Multi-year figures are annualized to reflect compound growth (CAGR)

DAT vs. SWPPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
DAT ProShares Big Data Refiners ETF	-1.27%	3.49%	33.22%	51.76%	-44.33%	-4.44%
SWPPX Schwab S&P 500 Index Fund	11.35%	17.87%	24.96%	26.26%	-18.14%	9.70%

Correlation

The correlation between DAT and SWPPX is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (All Time) Calculated using the full available price history since Sep 30, 2021	0.70

The correlation between DAT and SWPPX shifts across timeframes, from 0.51 (1 year) to 0.70 (all time), reflecting how their relationship changes across market environments.

DAT vs. SWPPX - Sectors Allocation Comparison

Sectors	DAT	SWPPX
Technology	96.9%	39.0%
Communication Services	2.3%	10.6%
Utilities	1.2%	2.1%
Healthcare	0.7%	8.3%
Basic Materials	-	1.7%
Consumer Cyclical	-	9.9%
Consumer Defensive	-	4.5%
Energy	-	3.1%
Financial Services	-	11.1%
Industrials	-	7.8%
Real Estate	-	1.8%

Return for Risk

DAT vs. SWPPX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DAT

DAT Risk / Return Rank: 9
DAT Sharpe Ratio Rank: 9
DAT Sortino Ratio Rank: 9
DAT Omega Ratio Rank: 9
DAT Calmar Ratio Rank: 9
DAT Martin Ratio Rank: 9

SWPPX

SWPPX Risk / Return Rank: 65
SWPPX Sharpe Ratio Rank: 63
SWPPX Sortino Ratio Rank: 59
SWPPX Omega Ratio Rank: 61
SWPPX Calmar Ratio Rank: 66
SWPPX Martin Ratio Rank: 77

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DAT vs. SWPPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Big Data Refiners ETF (DAT) and Schwab S&P 500 Index Fund (SWPPX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	DAT	SWPPX	Difference
Sharpe ratio: Return per unit of total volatility	-0.04	1.77	-1.80
Sortino ratio: Return per unit of downside risk	0.17	2.42	-2.25
Omega ratio: Gain probability vs. loss probability	1.02	1.32	-0.30
Calmar ratio: Return relative to maximum drawdown	-0.03	2.49	-2.52
Martin ratio: Return relative to average drawdown	-0.07	10.92	-10.99

DAT vs. SWPPX - Sharpe Ratio Comparison

The current DAT Sharpe Ratio is -0.04, which is lower than the SWPPX Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of DAT and SWPPX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DAT vs. SWPPX - Drawdown Comparison

The maximum DAT drawdown since its inception was -56.22%, roughly equal to the maximum SWPPX drawdown of -55.06%. Use the drawdown chart below to compare losses from any high point for DAT and SWPPX.

Drawdown Indicators

	DAT	SWPPX	Difference
Max Drawdown Largest peak-to-trough decline	-56.22%	-55.06%	-1.16%
Max Drawdown (1Y) Largest decline over 1 year	-34.70%	-8.89%	-25.81%
Max Drawdown (3Y) Largest decline over 3 years	-34.73%	-18.74%	-15.99%
Max Drawdown (5Y) Largest decline over 5 years	—	-24.51%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.80%	—
Current Drawdown Current decline from peak	-8.37%	-0.31%	-8.06%
Average Drawdown Average peak-to-trough decline	-25.94%	-9.92%	-16.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.73%	2.02%	+13.71%

Volatility

DAT vs. SWPPX - Volatility Comparison

ProShares Big Data Refiners ETF (DAT) has a higher volatility of 9.01% compared to Schwab S&P 500 Index Fund (SWPPX) at 4.28%. This indicates that DAT's price experiences larger fluctuations and is considered to be riskier than SWPPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DAT	SWPPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.01%	4.28%	+4.73%
Volatility (6M) Calculated over the trailing 6-month period	26.31%	9.98%	+16.33%
Volatility (1Y) Calculated over the trailing 1-year period	30.92%	12.55%	+18.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.96%	17.03%	+16.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.96%	18.21%	+15.75%

DAT vs. SWPPX - Expense Ratio Comparison

DAT has a 0.58% expense ratio, which is higher than SWPPX's 0.02% expense ratio.

Dividends

DAT vs. SWPPX - Dividend Comparison

DAT has not paid dividends to shareholders, while SWPPX's dividend yield for the trailing twelve months is around 1.00%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DAT ProShares Big Data Refiners ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SWPPX Schwab S&P 500 Index Fund	1.00%	1.11%	1.23%	1.43%	1.67%	1.27%	1.81%	1.95%	2.67%	1.79%	2.55%	3.17%

Frequently Asked Questions

Can I hold both DAT and SWPPX in my portfolio?

DAT and SWPPX have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DAT or SWPPX?

DAT has higher volatility (9.01%) compared to SWPPX (4.28%). In terms of maximum drawdown, DAT dropped -56.22% vs SWPPX's -55.06%.

Which has better risk-adjusted returns?

SWPPX currently has the higher Sharpe Ratio (1.77 vs -0.04), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.